RMS Indicates Sorema Cat Bond Won’t Be Hit

Risk Management Solutions (RMS) announced that, based on its loss modeling analyses, it does not expect Windstorms Lothar and Martin to be termination events to the catastrophe bond issued by Halyard Re SPV on behalf of Sorema SA (Paris). The storms affected western Europe between Dec. 26-28, 1999. The

$17-million bond, issued on April 1, 1999, is a retrocessional structure based on losses to a designated set of contracts within the Sorema portfolio in both Japan and Europe, and has an attachment point around 80 million Euros.